The stock markets are set for a wave of unicorn listings, according to technology venture capitalist and former Infosys official Mohandas Pai.
Mr Pai, who is also chairman of Securities and Exchange Board of India committees on primary markets and financial technology, said 10 to 15 internet and tech companies are looking to list in India over the next three years. These companies are likely to be valued at $300 million to $10 billion, he said in an interview.
One of the companies is Byju, creator of an education app, in which Mr Pai’s Aarin Capital Partners owns a stake. The other companies that he expects to list in the markets in the next few years include food delivery platforms Swiggy and Zomato, as well as PhonePe and Myntra, which are both units of Walmart Inc.-controlled Flipkart.